Category Archives: Rental Business

For beginners – Don’t buy heavy equipment. Rent them

Beginners joining any profession have to be really careful on the expenses they are making on their business. They might have extremely no control on their expenses as they may not understand how to block the flow of expense. They have to take care of a lot of recurring and non-recurring expenses and while they do so, they may completely lose track of the money left in their bank account. One fine day, they may find their bank account showing very less balance and may foresee lot of expenses to clear. They may find themselves to be in a very tight position and therefore it is important that they refrain from doing any expenses that is not much needed for the smooth running of the business.

To be more precise, if you are in the construction business, you got to be more cautious than ever. For timely completion of projects, you got to possess heavy equipment that are very expensive and if you do that then you tend to spend a good portion of your money for procuring the machine. This may leave you with very little money to meet other business obligations. Hence, it is advisable that if you are a beginner in the construction industry, do not spend your money in buying heavy equipment. On the contrary, you can take them on rent. That will turn out to be a good deal for you where you do not have to spend a bounty and things will be very much in your control.

Identify the heavy equipment you may need for your project:-

It is very crucial to know what type of heavy equipment is required for your business. As long as you do not know that, moving ahead will be difficult. Take guidance from people in the industry if you have any or join some blogs where you can put your questions about heavy equipment to them and you might get real good replies which will prove to be very helpful to you. Once you have identified the heavy equipment, the next goal will be to check the rental price of the machine. Not every owner of the equipment will rent it at the same price. The rental price of the machine may vary keeping into consideration the quality of the machine, the period for which it has been used. In other words, if the machine is not much older then you may have to pay more rent. However, if it is an old piece then you supposedly have to pay less for it.

Go to online portals to check the machine:-

Owners list the heavy equipment on websites that deals with selling and renting of construction machineries. Going to such websites will be really helpful to you as you will get to see a lot of options at different prices. You can then select the one that you seek to have and speak with the owner. If possible you can negotiate the price and try to bring it lower. You will end up getting a good deal at a considerably lesser price.

How to rent off-road articulated trucks

Heavy equipment always has a pretty decent sales value attached to it. This is why people do not mind paying more for equipment that will last for long and at the same time will fetch them a good price while selling it off. But selling the machine will be the end of the story and he can’t expect anything more once it’s sold. Therefore, there is something that can be done rather than simply selling the equipment. The machine can be put on rent if it is not required for the time being and once the tenure is over, it will be returned to the owner. It in fact makes more sense to let out your heavy equipment as you keep getting regular income and at the end of the tenure, you can let it out again at an increased price. Not just heavy equipment that are used for construction works but also trucks are widely let out across US.

A person can earn anywhere around $10,000 to $30,000 depending on the type of truck he has. It is simple to let out your articulated truck on internet. You only need to ensure that you have an account with an online portal that deals with letting you rent out of heavy equipment. There are some portals who only deal with selling heavy equipment and some deals with both selling as well as letting rent out. So you need to list it in the right place.

Articulated trucks are quite high in demand. It is because of their ability to carry loads of dirt at a go. It can also move on bouncy routes with the load on it. You seldom get a proper road on a construction site. More often, you have to carry the load on bouncy uneven paths. Using a normal can be a big pain for the driver but articulated trucks offer a bit ease to them while driving in such horrendous paths. Now if you have an articulated truck and you know the website where you can list the item, become a member and post the truck out there.

Few things that need to be remembered to catch the attention of the taker is how well you put down the information on the site. Just giving complete information is not much helpful. Putting it in the right way so that people find it easy to read must be your priority. Other than that, putting sufficient pictures of the truck is important. The look of the truck will form an impression in the minds of the takers and they might find your truck to be suitable over others. You can mention the rental value on the listing or can just state “Call for price”. This means that you will discuss the rental value over the phone or only when the taker likes the stuff. It also leaves both the parties with the option of negotiation.

Want to rent/buy heavy equipment. Avoid involving middlemen

Heavy equipment are highly expensive items and people who deal with buying, selling or renting heavy equipment usually earns good commission out of it. However, the person who has to pay commission may not find himself in a comfortable environment to pay money just to procure machines. The buyer in this case pays to two parties. First it is the seller and the next is the agent. So eventually, he ends up paying more for the same item and therefore he may not be so happy with the transaction. On the other hand, the seller also needs to pay his part of commission to the agent. This means that the agent gets a good deal of money from both the parties. His part of work was to understand the needs of the buyer and then search for a seller who is selling exactly what the buyer is looking for and ultimately introduce both the parties to each other. He needs to push the buyer a bit to buy the machine and if he gets convinced, the sale is done and he gets the commission.

The seller does not have much to lose here as he gets rid of the machine and does not mind paying someone who has helped him to get it sold. The problem is with the buyer who has to pay for the heavy equipment and also to the agent. Now by any way if he can manage to get the agent out and deal directly with the seller he does not have to pay any cut to anybody. So just pay the price of the machine and it belongs to you. The difficult part would be to locate the seller who will have exactly the stuff he needs.

Well there is a solution to this. We have many online portals that deal with buying, selling and renting of heavy equipment. So all you need to do is become a member of one such website and search for the heavy equipment that you require for your business. You will find almost everything under the sun. Right from scrapers to loaders and from CAT to Volvo, you will find a seller for all kinds of heavy equipment. The important part for you would be to join the portal that does not charge any fee from the buyer. The seller usually does not mind paying a small amount as fees to the online portal.

There are also some agents who work in the same manner as the online portals do. There is no harm in using the service of the agents as long as they do not bill you for earning commission. So you got to be pretty sure that they are not charging anything from the buyer and if they do, make it clear to them that you do not want their service as you do not want to pay commission to them. Try to avoid the involvement of middlemen ad it can save lot of your hard earned money.

Heavy equipment should be checked well before taking it on rent

We normally have the tendency to check the in and out of the stuff before buying it. We do this to ensure that we buy a worthy stuff and not a waste. Now when we are buying something for our business we need to be double sure that it is of good quality and will last for years. But do we have to check the quality of a product that we will be taking on rent. There should be no question that whatever we take related to our business should be of ultimate quality irrespective of us buying it or taking it on rent.

In the construction industry, companies often take heavy equipment on rent. Taking machines on rent is not a practice that is followed by the small construction companies or small time contractors but even big companies on many occasions have rented different types of equipment. They do it for a very simple reason. Construction companies deal with different types of projects for which they require different types of heavy equipment and it does not make any sense to any matured construction company to spend their money in buying heavy equipment when they have the option to get them on rent.

One of the fundamentals that one should follow before taking construction machines on rent is to check the machine well. If only the machine is in good standing that the company should be going ahead with the deal.

Locate the heavy equipment:-

Primarily you have to locate the heavy equipment that you need for your business. You can check with people in your business circle if they know anybody who is renting heavy construction machines. You can also try to get a review of the person so that you know the quality of machines he gives on rent. You can then call up the person and check if he/she has the machine that you need and if he/she has what you have been looking for then ask him to give you a time to inspect the machine. Do not give any commitment before you have seen or examined the machinery.

Check the working condition of the machine:-

The heavy equipment the person is showing you may look good from outside but you do not know its worth as long as you have not worked on it. Therefore, if you are a person who know to work on heavy machines should take a trial and check if it is working smoothly. Just in case, you do not have the technical know-how of heavy equipment it is advisable that you go along with a mechanic and an operator who will examine the machine and will give you precise suggestions. You should also check with the owner of the machine if they have recently changed any of its parts and has there been any issue with the machine that has been fixed by any mechanic. It should not happen that after you have taken it on rent and some problems resurface and you got to face the music.

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Renting heavy equipment is far better than leaving it idle

A person belonging to the construction industry has to go through different phases. Some are good, some bad and some even ugly. It is very evident that all construction companies make good money during the good times but the problem arises when the tide turns for bad and they do not have work in hand. This is when most of the companies take difficult decisions like sacking employees or disposing their resources, which heavy equipment are also a part of. It is certainly not wise to give away those expensive pieces of metal at a dirt cheap price and therefore if one has an option that can avoid them to sell the machines, they should pick that up.

Renting heavy equipment is considered to be the most viable option one can consider if they do not want to really get rid of their machines. If they pick this option, they will be able to make money on a monthly basis and can also retain the stuff once the tenure ends. This means that they never lose their title from the construction equipment and has every right to claim the machine once the period mentioned in the agreement is over.

Few things one must consider before they think of renting their heavy equipment.

Finding a taker who will take good care of the machine:-

It is very important that you get someone who will treat your machine with the same care that they would have taken for their own machine. It has been witnessed that people who rent heavy equipment use them very roughly and not care much of its maintenance. Thus, it deteriorates the quality of the machine and you may find it giving a lot of issues. In order to avoid this kind of problems, you should mention in the agreement that you can make visits to check how they are treating the machine and the visits can be in an interval of 3 months. In this way, you can ensure that your machine is in order and when you get it back, it will be working fine.

Rental contract should be in order and should protect your rights:-

When you make the rental contract with the taker, you should make sure that you pen down all the important points that will protect your rights as the giver. Please remember that you are not selling the machine that you will have no liability on it later on. You are just renting it and it should not happen that once the period is over, you get back a completely worn out machine. Also state the date by when you should get the rental money in your bank account. In case you want, you can give them some breathing space just in case they need some extension to pay the money, but that should not happen regularly. If they ask for an extension once in a blue moon, you can consider it, but if they take you for granted, it is definitely not a good sign.

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Rent heavy equipment after carefully deliberating the pros and cons

It is pretty obvious that you do not want to keep your construction equipment lying idle and want to make some use of it. In case, you are running out of projects and do not have much work to put all your machines to some use, you might consider to rent them. But by just renting the machine can’t ensure that you do not have to worry about it any longer. No wonder that you can start getting rental money on each and every month but there is something you are losing in this bargain. Well, you are definitely not losing your equipment but if you hand it over to the wrong chap, then you will without doubt get scrap in return at the end of the rental term.

It is therefore very crucial to identify the pros and cons of renting the machine before you actually go for the deal. Knowing the benefits and the disadvantages can help you a long way in taking a concrete decision on how you should be going ahead with the deal. If you have been renting machines in the past, then you would be knowing about how to deal with situations but if you are a newbie, then you got to learn things first before you go to strike a deal.

Identify the heavy equipment you want to let out:-

It is very critical to first identify the heavy equipment that you want to put on rent. You may not want to give a new one on rent as you may want that for your projects. You can play around with the older stuffs that you have. Check your inventories, know what you have and rent the machine that are not being used by you any longer. Do not let out the new equipment if you have any and especially not the ones that you feel are doing great guns in your company. You should pick out the ones that are lying idle for long, the ones that are not technologically advanced and are probably a little out of date.

Renting heavy equipment has high possibility of it getting worn out before than ever:-

If you have decided to let out your heavy equipment, you should also be ready to acknowledge the fact that you will not get it back the way you gave it to the taker. When you rent your heavy equipment, the user uses it exclusively to complete his projects on time and he may use the machine the way he wants without paying much attention to the wants of the machine. This may end up in deteriorating the quality of the machine and at the end of the rental period you will find the machine to be in a bad state. You may also have to spend lot of money in getting it repaired so that you can probably rent it again or just sell it to another person.

Therefore, do not spend all that you have made from the rental income. Save some money to get the stuff repaired.

Rent a Cat heavy construction equipment from B&R Equipment

Renting heavy construction equipment has never been as simple as it is in today’s time. Earlier when there was no internet and when people had to hunt for machines on rent, they were largely dependent on newspaper advertisements or classifieds that gets published in some magazines that is based on construction equipment or equipment salesman. Another mean to know if someone is renting a machine is through a person from their circle. Other than this, they were hardly any means to know if anybody is renting heavy construction equipment. Things have however changed for better now and with the advent of internet we are get what we want at a faster rate and we can also expect to get something better through internet. Nowadays, brand matters a lot and someone who is letting out branded items are invariably everyone’s choice.

We have B&R Equipment Company that is in the business of renting branded heavy equipment and one can indeed vouch for what they have to offer to the construction companies. They are in the business of heavy equipment for the last 20 years which makes them one of the most experienced in the lot. Experience does matter and when it matters it matters a lot. So a company with over 20 years of experience will suggest you machines based on your needs. If needed they will do an overview study of your project and try to understand what kind of heavy equipment will best suit your project. This will help them to give you better suggestions and this is what they have been doing since long.

You can vouch on them on any kind of heavy construction equipment. Right from a dozer to an excavator to scraper or a grader, all you have to do is name the equipment you are looking for to take on rent and you will get that at a better price; a price that you will not get at many places. So here you can get some real good branded machine at an affordable price. All you have to do is check their website and see the machines. In case, you need to speak to someone to get a better picture about the services you get from them, then you can get the number of the person and call them up to get all your questions answered.  817-379-1340

B&R equipment offers 200 hours of operation on every rental month which is far more than its competitors who are offering just 160 hours of operation per month. So in case, you have already taken the machine on rent, you can give it back and latch on to B&R Equipment Company for more hours of operation. B&R Equipment Company rental plan is of 30 days unlike other companies plan which ceases on the 28th day of the month which means you have to renew it on the 29th day. Going as per this calculation, other companies charges you 13 times in 12 months whereas B&R charges you only for 12 months. So if you want to rent a CAT heavy construction equipment it makes more sense to get it from B&R Equipment Company.

Renting a track loader

Renting business has gained a lot of momentum in the last few years and this has led to many people taking advantage of this opportunity and letting out their heavy equipment to people who need them for their business. So if you have any heavy equipment that is being unused and you want to get rid of it, rather than doing it away completely, the better option is to rent it out. By renting it to a person, you not only earn recurring rental income but can also sell the equipment at a better price in the future. All you got to do is refurbish the machine and put it on sale. Heavy equipment that can be quickly rented are basically multifunctional. For instance, a track loader is one such heavy equipment that is viable to do every kind of construction activity which is out of its genre. It may not be the perfect tool and one would prefer to use a machine that is especially designed for a particular work but to buy different equipment for every other work is definitely not practical and also not monetarily feasible for any big construction company.

So a track loader can be called the blue eyed candy and the most preferred amongst all heavy equipment. So renting a track loader will never be an issue. You will for sure get many people who will be willing to use the machine by paying you the amount you demand. Just make sure that you do not keep the price so high that people will find it difficult to take. Since it will not produce better results than heavy equipment that is specifically designed to for a particular genre of work, you should quote an amount that people will become ready to pay.

You can advertise your wish to let out the machine on an online portal or can check with few of your pals who are connected with this industry if at all they know anybody who is looking for a track loader. It may not be a one day process as it takes time to get the right person for the machine. You got to be sure that the person will use the machine with care and there will not be any major wear and tear on it. This is perhaps the most critical part in the entire process of renting heavy equipment. Finding the right guy for your heavy equipment is important.

The other important aspect is if the taker will be ready to pay the rental price of the loader. You may quote an amount but it is very likely that the prospective taker will negotiate on it and will try to bring the price down. So you should be ready for negotiations as well and therefore should always quote the price on the higher side. Presently owners of heavy equipment are finding online portals as the most convenient tool to list their machines. You should supposedly not have any issues in renting a track loader on any online portal.

Heavy equipment industry is fast catching up the rental market

Heavy equipment companies may experience a hard time to sell their machines in the market. They might not find buyers at all times. Due to the cost of the machine which is invariably high, not many construction companies can afford to purchase them and at the same time the needs of the companies also change which means they have to keep on changing the heavy equipment as per their needs. Now it is certainly not feasible for a small construction house to keep buying machines as per the demand of the project. Therefore the best suitable option available to them is to rent the machine till the time they need them. Get done with their work and hand over the machine to its owner.

Though heavy equipment manufacturing companies do not directly deal with renting the equipment but there are entities that make good revenue by purchasing machines from the heavy equipment companies and then renting it out to the end users. Since they are dealing with new stuff, the rental amount one has to pay is comparatively higher than the ones given on rent by individuals. They may be slightly expensive but the quality of the equipment is unparalleled with any other machine listed by any individual.

On the other hand, the equipment possessed by these entities are thoroughly checked before it is listed on their website. So it means that when the guys who want the equipment on rent comes to get the machine, he can be completely assured that he will be taking the best with him. These entities are slowly catching up the heavy equipment rental market and they particularly believe that the year 2016 will be a great year for their business. It is primarily of two reasons. The first is the construction and mining industry are at its peak and it does not seem to come down at least in this year and the second reason is people want quality stuffs and they also need assurance which is provided to them by such entities.

It has been witnessed that people who take machines on rent have a hard time to convince its owners that the machine has developed some complication that was beyond his control and the giver of the machine penalizes him for the problem. This issue is somewhat managed if they take the machine from these small companies. Since these companies have their engineers who can work on the problem they do not fine the takers for anything and everything. This actually increases the confidence of the takers on these companies and they prefer to go with them. Moreover, they are also assured that these companies pick new machines either directly from the company or majorly from banks that confiscate heavy equipment over non- payment of installments.

These companies have quite easily won over the hearts of the contractors and small construction houses and have found a good opportunity to make decent income.

Rental contract is a must before you let your machine

Just like before you buy or sell your property, you make a purchase agreement which states all the information about the purchase in detail, in the same way, it is also a must to form a rental agreement before you let your machine to someone else. Heavy equipment are unquestionably one of the most expensive items that you possess in your construction business and in case you decide to rent it, you got to ensure that at the end of the contract you get the machine in order. Just in case, you do not form a proper rental agreement, there are high chances that the user may use the machine according to his whims and fancies and completely deteriorate the quality of the machine. So by the time you get the heavy equipment back in your possession, you got to spend a lot on the repairs and fixtures part which may not sound quite economical to you.

Rent the equipment to a person who has no issue signing a rental contract:-

It is always advisable that you let your heavy equipment to a person who does not have any issue in signing the rental contract. A rental contract is just a document that speaks about the terms and conditions that both the parties have agreed to before the owner handing the possession of the machine to the other party. It basically protects the rights of both the giver and the user. By forming a concrete rental agreement, there are less chances of the user misusing the machine. For instance, the user will give importance to regular servicing which he might otherwise not have paid much heed to. There is lot of advantages of forming a rental contract as it proves to be a healthy affair for both the parties.

Catch hold of a good attorney to draft your agreement:-

Drafting the rental agreement from an attorney who has ample of experience in this profession is of immense importance. An experienced attorney may suggest few points which you must have not even considered and which are quite important. They may charge you little extra but that will be really worthy. You can keep the same draft and use it again if you rent the machine to the next user. You may need the attorney but do not have to pay him the same fee as you did in the previous occasion.

Go to internet to check few drafts of rental agreement:-

In case you are renting the heavy equipment to a close friend or someone in your family then you perhaps do not have to form a stringent rental agreement. A simple one will do in this case. However, you still got to draft an agreement for which you need some help. It is recommended that you go to google and check few rental agreements over there. It will be really helpful and also you get that for free. You only need the help of an attorney to complete the legal proceedings for which they will charge you a very nominal fee.